What'S the Damage?: Medium-Term Output Dynamics After Banking Crises
This paper investigates the medium-term behavior of output following banking crises, and its association with pre- and post-crisis conditions and policies. We find that output tends to be depressed substantially following banking crises, with no rebound to the precrisis trend. However, growth does e...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2009
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 09/245 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper investigates the medium-term behavior of output following banking crises, and its association with pre- and post-crisis conditions and policies. We find that output tends to be depressed substantially following banking crises, with no rebound to the precrisis trend. However, growth does eventually tend to return to its precrisis rate, with substantial crosscountry variation in outcomes. The depressed path of output typically results from reductions of roughly equal proportions in the employment rate, the capital-to-labor ratio, and total factor productivity. Initial conditions that are strongly associated with medium-run output losses include the short-run change in output, the occurrence of a joint banking-and-currency crisis, and a high precrisis level of investment. Short-run fiscal and monetary stimulus is associated with smaller medium-run deviations of output and growth from the precrisis trend |
| Beschreibung: | 1 Online-Ressource (37 p) |
| ISBN: | 1451873921 9781451873924 |
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| index_date | 2024-07-03T20:13:26Z |
| indexdate | 2024-07-10T09:35:35Z |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Abiad, Abdul Verfasser aut What'S the Damage? Medium-Term Output Dynamics After Banking Crises Abiad, Abdul Washington, D.C International Monetary Fund 2009 1 Online-Ressource (37 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/245 This paper investigates the medium-term behavior of output following banking crises, and its association with pre- and post-crisis conditions and policies. We find that output tends to be depressed substantially following banking crises, with no rebound to the precrisis trend. However, growth does eventually tend to return to its precrisis rate, with substantial crosscountry variation in outcomes. The depressed path of output typically results from reductions of roughly equal proportions in the employment rate, the capital-to-labor ratio, and total factor productivity. Initial conditions that are strongly associated with medium-run output losses include the short-run change in output, the occurrence of a joint banking-and-currency crisis, and a high precrisis level of investment. Short-run fiscal and monetary stimulus is associated with smaller medium-run deviations of output and growth from the precrisis trend Online-Ausg Balakrishnan, Ravi Sonstige oth Koeva Brooks, Petya Sonstige oth Leigh, Daniel Sonstige oth Tytell, Irina Sonstige oth http://elibrary.imf.org/view/IMF001/10546-9781451873924/10546-9781451873924/10546-9781451873924.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Abiad, Abdul What'S the Damage? Medium-Term Output Dynamics After Banking Crises |
| title | What'S the Damage? Medium-Term Output Dynamics After Banking Crises |
| title_auth | What'S the Damage? Medium-Term Output Dynamics After Banking Crises |
| title_exact_search | What'S the Damage? Medium-Term Output Dynamics After Banking Crises |
| title_exact_search_txtP | What'S the Damage? Medium-Term Output Dynamics After Banking Crises |
| title_full | What'S the Damage? Medium-Term Output Dynamics After Banking Crises Abiad, Abdul |
| title_fullStr | What'S the Damage? Medium-Term Output Dynamics After Banking Crises Abiad, Abdul |
| title_full_unstemmed | What'S the Damage? Medium-Term Output Dynamics After Banking Crises Abiad, Abdul |
| title_short | What'S the Damage? |
| title_sort | what s the damage medium term output dynamics after banking crises |
| title_sub | Medium-Term Output Dynamics After Banking Crises |
| url | http://elibrary.imf.org/view/IMF001/10546-9781451873924/10546-9781451873924/10546-9781451873924.xml |
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